During the early hours, Ethereum initially experienced a wave of oscillating decline, with the market gradually retreating from the top and forming a temporary low around 2010. During this period, the rebound strength was weak, and the bears remained dominant. Subsequently, in the morning, the price fluctuated sideways at a low level, repeatedly tugging around the 2020 mark. Market sentiment gradually improved, and in the later part of the early session, the bulls launched a concentrated effort, causing a rapid surge that broke through the previous consolidation range, reaching above 2090 at one point. However, from the chart pattern, this upward move was relatively fast, driven by emotional momentum, and its sustainability remains to be verified. Currently, the market has pulled back to around 2070 and is consolidating, with short-term bullish momentum slowing down and some divergence appearing at higher levels.

From the current chart trend, although it appears to be upward on the surface, it has essentially entered a high-pressure zone after the surge. After continuous rises, the price has moved away from the mean range, showing a clear need to revert. The 2100 level above is an important previous resistance zone; if it cannot be effectively broken through, a secondary pullback is likely to occur. Momentum indicators are in the high zone and beginning to flatten, showing signs of bearish divergence in the short term, indicating that upward momentum is weakening. Focus should be on the resistance around 2080-2100; if the rebound fails to break through and signs of stagnation appear, it can be considered a shorting entry zone. On the downside, look for a pullback to the 2050-2030 range. Short-term trading should mainly focus on short positions, using resistance levels as a basis for layout. The current market has entered a high-level game phase, with bullish advantages waning, and the short-term trend leaning more toward a correction.